As part of the federal government’s continuing battle against ransomware, the U.S. Treasury and Financial Crimes Enforcement Network (FinCEN) took a series of steps Monday to punish facilitators of ransomware payments and make financial institutions more aware of related red flags.
The Office of Foreign Assets Control (OFAC) added Chatex, a virtual currency exchange, to its list of specially designated nationals (SDNs). The Treasury said of Chatex’s known transactions, “over half are directly traced to illicit or high-risk activities such as darknet markets, high-risk exchanges, and ransomware.”
